German Flash Manufacturing PMI Slips to 43.1 in July, EUR/USD Hits Fresh 2-Month Lows
Wednesday, 24 July 2019 15:01 WIB | ECONOMY |Ekonomi Jerman

German manufacturing activity recorded the worst performance in seven years in the month of July, the latest manufacturing activity report from IHS/Markit research showed this Wednesday.

The German manufacturing purchasing managers index (PMI) arrived at 43.1 versus 45.0 expected and 45.2 previous. Meanwhile, services PMI hit a two-month low level of 55.4 as against previous months reading of 55.8 and 55.3 anticipated.

The IHS Markit Flash Germany Composite Output Index came in at 4-month lows of 51.4 in July vs. June™s 52.6 and 52.3 expectations.

On the German PMI disappointment, the selling pressure around the EUR intensified, with EUR/USD hitting fresh two-month lows at 1.1128.

Source : FXstreet

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